President Lula announced that state-run Petrobras will seek to buy back the Bahia refinery sold to Abu Dhabi's sovereign fund Mubadala in 2021 under former President Bolsonaro. The statement signals potential state-led asset reacquisition that could alter Petrobras' asset mix and investor relations with sovereign funds, and may raise concerns about policy continuity for foreign investors in Brazil's energy sector.
President Lula announced that state-run Petrobras will seek to buy back the Bahia refinery sold to Abu Dhabi's sovereign fund Mubadala in 2021 under former President Bolsonaro. The statement signals potential state-led asset reacquisition that could alter Petrobras' asset mix and investor relations with sovereign funds, and may raise concerns about policy continuity for foreign investors in Brazil's energy sector.
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